Independent directors were supposed to safeguard the interest of all stakeholders.
The voting rights with the promoter will ensure the interests of the promoter family as well as minority shareholders are protected in future, said corporate governance advocates and corporate lawyers.
Experts said many firms had unbilled assets on their books.
However, Deloitte, the latter entity, says regulations don't mandate it to go beyond a basic examination of the books of accounts.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
Starting April 1, a non-executive director of 75 years or more can be appointed or re-appointed only by way of a special resolution, which requires 75 per cent 'for' votes.
41 listed firms made 73 donations to gaushalas (cow shelters) and other cow-related charities over the last four years. The donations range from a few thousand rupees to a million.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
ONGC, Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India listed the spending as part of their mandatory CSR commitment, but CAG noted that the Sardar Patel statue did not qualify for CSR funding.
Eight of the 30 companies in the BSE Sensex that shared data reported 99 fatalities in 2016-17 against 86 in the previous year. These lives were lost due to industrial accidents at manufacturing facilities. Fatalities owing to road accidents were excluded from the count.
'If she contests it, then these people will have to fight it in court.'
The top companies with a striking gap in pay between the senior-most executives and median employees in 2017-2018 belonged mostly to sectors such as information technology, auto and engineering.
Experts said the outcome isn't surprising as the action initiated by Sebi was not after an investigation or findings.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
In September, Sebi had given a six-month extension to companies.
'Where is the board's accountability in this whole transaction? The members of the earlier board who participated in approving and defending these acquisition are still in the current board,' the whistleblower said in a mail sent to US SEC and Sebi.
'Pravin Rao's commitment and contribution to the company has been immense, and his partnership over the past three years has been critical to the successes and growth of our company,' said Vishal Sikka, chief executive officer at Infosys.
More than 1,000 independent directors have quit since January 2017; more could be on their way out
5 things to look at when companies go for mergers and acquisitions.
On the other hand, the group's two traditional cash cows, TCS and Tata Motors' subsidiary Jaguar Land Rover, are slowing as other businesses pick up pace
Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director.
Audit firms such as KPMG believe zero complaints may be an indicator of the lack of requisite mechanism to allow for such reporting
Sell it to the company's shares during the next year.
Insurer likely to support Ratan Tata; reduction in stake might have been profit booking.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
The strategy of returning cash to shareholders through stock purchases could hinder their digital expansion plans
After every corporate announcement, check your demat and bank accounts for necessary credits.
Fixed deposits can fetch 9-9.5% interest versus 3.5% to be received by Cairn, say institutions.
Companies' annual reports can hide as much as they reveal. Investors can get early warning signals of wrongdoing by frequently speaking to other stakeholders.
More punitive action was needed against the company and the management, say experts
Close to a million small shareholders have stake in nine NCLT-bound companies
I have no hesitation to say that the cultural milieu is different, said chairman R Seshasayee in a rare media interaction.
The law of diminishing returns catches up as one goes up the ladder.
Tata Steel and Tata Chemicals under investor watch
Women from promoter families who have become directors since January this year include Sarala Birla (Century Textiles, Century Enka), Nawaz Gautam Singhania (Raymond Group), Bina Modi (Godfrey Phillips), Saroj Bhartia (Jindal Drilling & Industries) and Deepshikha Khaitan (Cera Sanitaryware).
The combined pay for India Inc's top management was up 30 per cent in FY16, growing at the fastest pace in nine years
Eight months after India's largest car maker, Maruti Suzuki India, announced plans for a Gujarat unit to be set up as a wholly-owned subsidiary of parent Suzuki, opposition to the move continues to simmer.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances